InnoVen Capital, an Asian provider of venture debt for high growth, venture-backed technology companies, has announced the first close of its second China fund, InnoVen China Fund II, at approximately $130 million. The fund has a target size of $250 million and aims to expand InnoVen Capital’s footprint in China by providing venture debt financing to high-growth and innovative startups. InnoVen China has been a key player in China’s venture debt market since 2017, supporting over 100 high-growth startups with cumulative disbursements exceeding $400 million. Fund I, established in November 2021, has achieved a robust performance with a distribution to paid-in (DPI) of 13 percent.
The limited partners (LPs) of InnoVen China Fund II come from a variety of backgrounds, including InnoVen Capital, a joint venture between Seviora and United Overseas Bank, anchor investors, and local government agencies. The fund will strategically focus on deep tech, enterprise services, consumer, healthcare, and carbon-neutral sectors. InnoVen Capital, with offices in India, China, and Singapore, actively supports talented founders in Asia in growing their businesses.
